Development model represents a nation’s commitment to translate its potential and efforts into programmes and actions to achieve speedy social and economic growth. To this end various models are adopted by nations depending on its specific socio-political considerations and growth ambitions. India’s development plans post-independence has been largely demand driven and motivated by economic expediencies. Many flagship programmes initiated by the Government time to time, despite offering a ‘Pan-Indian’ panacea, serve to achieve only piece-meal solutions. Developmental retardation could be attributed to inadequacy in addressing poverty as a fundamental issue. This paper attempts to bring out a conceptual exposition of development paradigm and the various prominent models that are in use. A four pronged approach to eliminate poverty is also suggested.